Australia: Farmers seeing good off-farm movement for barley thanks to strong exports to China

The moisture profile in eastern Australia continues to benefit from considerable rainfall received during the past month, RMI Analytics said in their latest report.

With strong exports to China, farmers are seeing good off-farm movement for barley which is helping offset the very poor domestic demand from maltsters. A generally good harvest result with a crop size of 11.19 mln tonnes leaves the supply side comfortable. For crop 2024 planting, good soil moisture supports barley area but a lack of demand may push farmers away from barley.

Prices are lower across all regions, for both malting and feed barley. Although the market remains relatively quiet, China has recently re-entered the market to buy additional feed barley, for April/May shipment. This affirms the resurgence of supply to China is continuing in a strong way. On a freight basis to China, Western Australia holds an advantage over the Australian east-coast ports.

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